Open standards payment for public transportation will be the focus of the Smart Card Alliance Transportation Council two-day meeting hosted by the Metropolitan Transportation Authority / New York City Transit in New York City on September 22nd and 23rd. In addition to roundtable discussions and presentations, the meeting will be highlighted by a tour of the New York/New Jersey Contactless Fare Payment Trial. The meeting is open to all Smart Card Alliance members, Transportation Council members, and non-member transportation agencies. The agenda and registration information is available at http://guest.cvent.com/EVENTS/Info/Summary.aspx?i=a386d1d2-341f-4038-b707-4b37c22eaee0. The New York/New Jersey Contactless Fare Payment Trial involves the Metropolitan Transportation Authority / New York City Transit, Port Authority of New York and New Jersey, and New Jersey Transit.
Kaneâs Furniture selected GE Money as its consumer financing partner for the “Furniture Card” and the “Savon Furniture” Card. With the new financing program, customers at all 17 Kaneâs and Savon stores can apply for credit and get fast responses, often within seconds. The Business Center is GE Moneyâs password protected website that provides a suite of marketing tools to their retail partners. By leveraging the Business Center Kaneâs and Savon stores can track credit sales by location, provide sales training and a lot more. GE Money pioneered consumer financing more than 75 years ago and today provides financing services to more than one million businesses.
Fiserv financial services technology solutions has introduced its “Revenue Expansion” program to help banks and credit unions impacted by Regulation E, prohibiting overdraft fees for ATM or one-time debit card transactions. With 20-50% of overdraft fee income from electronic transactions at risk, which generate an estimated $30 billion annually, banks and credit unions need subsequently create a strategy to comply. The Fiserv “Revenue Expansion” program offers New Deposit Products, Consumer Liquidity Products, and Cross-Sell, Loyalty and Retention Products. The new deposit products include alternatives to free checking such as incentive or rewards-based checking: relationship or activity-based pricing; card based initiatives such as consolidating PIN networks; increasing debit card penetration, activation and usage; and new consumer payments alternatives such as expedited electronic bill payment and person-to-person payments. Short-Term Consumer Liquidity Solutions directly address the potential impact from Reg E. For consumers who “opt in,” financial institutions can implement dynamic overdraft threshold strategies determined on an account-by-account basis that provide consumers with overdraft limits that match their capability to repay. Cross-Sell, Loyalty and Retention Products, including card rewards, relationship rewards, incentive-checking products and relationship pricing, can drive consumer behavior and encourage long-term retention and greater product usage.
Comdata payment innovation has been awarded the “Supplier Excellence Award for Excellence in Collaboration” from Coca-Cola Enterprises (CCE). Commending Comdata’s customer-focused approach in listening and delivering solutions that meet its business needs, the “Supplier Excellence Awards” recognizes the Company as a top-rated supplier. Comdata has collaborated with CCE on a single-card solution to create companywide synergies throughout its fuel supply chains and the Comdata fuel card management program to provide CCE fuel savings. Comdata also consulted with CCEâs Audit and Compliance department to establish defined business rules that help protect the integrity of the CCE brand, as well as drive compliance and savings.
American Express is presenting its “Cardmember-Only Viewing Event” and “Designer Discussion” for Fashionâs Night Out: The Show, runway public fashion show. The event will take place at Alice Tully Hall on September 7 starting at 6 PM and provide style savvy Cardmembers with another way to experience this memorable evening and be part of the excitement at Lincoln Center. Featuring over 150 looks, the exclusive viewing event will offer Cardmembers a spectacular vantage point to view the entire runway production on an entirely new level. To learn more about American Expressâ special access to the world of fashion and other exciting entertainment offers, follow @americanexpress on Twitter, become a fan of American Express on Facebook and visit www.americanexpress.com/entertainment
PayTrace has deployed transaction processing capabilities on the Chase Paymentech Tampa processing network. Integration and Certification has been completed on the Chase Paymentech Tampa processing network for all of PayTraceâs functionality, including: Moto, E-Commerce, Retail, and Level II and III data processing. This offers more market opportunities by offering the ability to process payment transactions on the network to benefit Resellers with a greater choice or networks.
Hypercom is set to attend the 2010 Roth Fall Conference Wednesday, September 1 through Friday, September 3 at the Grand Wailea Resort Hotel in Maui, Hawaii. With this, the Company CFO will participate in a series of one-on-one meetings with investors. Also set to present at the conference is the Hypercom Senior Vice President, Finance, Treasury and Investor Relations. Hypercom global payment technology offers a full suite of high security, end-to-end electronic payment products, software solutions and services.
MoneyGram International has inked partnership agreements to allow “Univision” MasterCard Prepaid cardholders to load their cards at approximately 35,000 of its agent locations nationwide. The “Univision” MasterCard Prepaid Card provides Hispanic consumers with an affordable alternative to carrying cash or using a credit card and is a cheap, safe and easy way to track and manage spending. MoneyGram provides “Univision” MasterCard Prepaid Card users the first load for free, while subsequent reloads are $3.95. MoneyGram offers reloading for hundreds of prepaid card programs in retail locations in virtually every community including many grocery, pharmacy and convenience store chains.
Big Hairy Dog Information Systems and USAePayâs “PaySaber” teamed to allow Nike sales representatives to to scan barcode items, take a credit card or cash payment for the merchandise and print a detail-itemized receipt from anywhere at the New York City Nike World Basketball Festival. Associates assisted and checked out on the floor of the store using the mobile payment “PaySaber” on either the Apple iPhone or iPod Touch to offer all the functionality of a stand-alone point of sale register in the palm of the hand. The USAePay “PaySaber” software works in conjunction with the Big Hairy Dog Retail Pro solution and would update customer details, sales records and inventory quantities so both were always in sync. Based on this successful implementation, Nike Events plans on moving forward with the solution for future events such as the Chicago Marathon, New York Marathon and Nike Womenâs Marathon in San Francisco.
Dollar Financial, serving primarily unbanked and under-banked consumers, posted consolidated total
revenue of $610.9 million for its 2010 fiscal year, up $83.1 million or 15.7% year-over-year. Adjusted
EBITDA was $182.2 million for fiscal 2010, for an increase of $43.7 million or 31.6% compared to the prior
fiscal year. For 2Q/10, meanwhile, total consolidated revenue was $159.0 million for an increase of 27.8%
or $34.6 million over the three months ended June 30, 2009. The Company incurred $10.2 million of net
one-time charges, principally related to an $8.5 million net unrealized, non-cash mark-to-market
valuation loss on the Company`s debt and cross-currency interest rate swap agreements throughout the
quarter. The Company continued to implement its store rationalization program, having closed 23 U.S.
financial services stores, 16 of which were located in Arizona with 7 store closures in the State of
Washington. Results were also due in part to the recently acquired Dealers` Financial Services (DFS)
business in the United States, which provides fee based auto lending and insurance services to military
personnel in the United States and contributed $4.9 million of incremental EBITDA for the quarter. With
these results, Dollare Financial is expecting to post adjusted EBITDA of between $205.0 million and $215.0
million in the next fiscal year.
American Express has its lineup of enhanced fashion experiences and exclusive Cardmember offerings during Mercedes-Benz Fashion Week. This allows Cardmembers to experience an exclusive viewing of the Tory Burch Spring 2011 collection; to interact via Twitter through the specially enhanced multimedia wall; and to enjoy the Skybox, offering an unparalleled vantage point of the runways, connect them with the industryâs biggest names and allow them to mingle with the whoâs who of the world of fashion and style, among many more benefits. Cardmembers can take advantage of an exclusive American Express offer during the second-ever Fashionâs Night Out by registering their eligible American Express Card at americanexpress.com/entertainment.
Warren Faleiro has joined BilltoMobile payments solutions as VP, engineering and technology. Prior to joining BilltoMobile, Warren served as VP, multimedia applications at VeriSign to oversee driving technology delivery and maintaining strategic relationships with tier one mobile operators. Also at VeriSign, he led a team developing innovative carrier grade services including a highly scalable Multimedia Messaging Service Center (MMSC), a media sharing portal, social networking gateways and embedded mobile application software. Warren has helped several other top mobile and telecom organizations build effective product and engineering teams as well as create and leverage strong relationships with their strategic partners. BilltoMobile alternative online payment provider is in sync with the e-commerce mobile payment evolution, having processed $3 Billion in DMB transactions with its 10,000+ online merchant partners since 2000.